November 18, 2020
853405 Alberta Ltd., which operated a fitness centre under the name “Peak Physique Gym and Fitness Centre” in the Town of St. Paul, Alberta, was adjudged bankrupt on November 18, 2020, on joint application by ATB Financial (“ATB”) and Servus Credit Union Ltd. On March 29, 2019, ATB commenced foreclosure proceedings in the Court of Queen’s Bench of Alberta against the company for failure to pay the indebtedness owed to ATB. On December 6, 2019, real property and certain personal property owned by the company were sold in the foreclosure action and proceeds from the sale of the Lands were applied to ATB’s indebtedness. The company ceased operations in February 2020 as a result of the foreclosure action and sale of the company’s real and personal property. The Bowra Group Inc. was appointed trustee in bankruptcy.